Every loan seeker is likely to ask about the amount one costs per month, before they fill up the dotted lines. We, Dealsofloan.com promise you our Loan EMI calculator is very quick to perform and easy to handle. You can check our EMI calculator before you apply for a loan with us. Our Loan EMI calculator easily makes you understands how affordable the loan is and you can apply for loan only if you are satisfied by the interest rates using our system. With our unique system of calculating the interest, you get the exact idea about the optimum loan you can afford. You can check it with our dealer for knowing the exact amount of monthly payment.
To assist you in every possible way to apply for a loan without much stress, we have made it very easy for you thorough our EMI calculator. Using our system you can also get an adjustable rate of loan. As there are many EMIs for different loan tenures, by checking them you can easily find which is more suitable for you as the EMI depends up on the amount of loan, loan tenure and interest rate. We are sure that our Loan EMI calculator is customer friendly and the interest rate is affordable for all loan tenures.
We have made the unique EMI calculator which can be used for multiple loan calculation like personal loan, Business Loan, Home Loan, Mortgage Loan etc. We have designed the calculator for instant calculation of loan EMI, Tenure and check the current outstanding of the running loans. Customers are advised to check the desired loan installment and compare the lowest interest rates and other offers before applying for any of loans and other financial services from any of the banks or other institute in anywhere in India. We have used the dynamic features and made it the best calculator from the markets.
What is EMI Calculator?
EMI calculator is basically a tool with a mathematical formula which calculates the monthly installments as per the interest rates and loan tenure. The calculator is the combination of different types of parameters like interest rates, principle amounts, loan tenure and the outstanding amounts. It gives the real and authentic values of the EMI and because of it we able to calculate the correct figures on time. It can be used for all types of financial loans products like secured and for all kinds of unsecured loans also. It has made by the numeric values and it works for simple interest, compound interest and reducing interest basis. Banks uses calculators for calculating the correct monthly installments for loans.
EMI is the shot form and the complete form is equated monthly installments. Generally it is used for repayment of all kinds of loans likes secured or unsecured loans. When we applied for any kinds of loans from any of banks of non banking financial institutions they are used to take the monthly fix component of installments as EMI till the completion of the loan repayments. Banks provides the loans to all customers for a fix periods it can be between 3 month to 25 years but it depend up on the product program, eligibility of financial amount or the nature of the loan program. Normally the minimum tenure starts from 3 three months for consumer loans and maximum tenure avail in housing finance where customer avail the financial assistance up to 25 years. There are two modes are available for banks one is ECS – electronic clearance services, it works in monthly mode and hit in the customers bank accounts on the fixed monthly date and early morning before 10 am. Another mode is SI – standing instruction, this is for those customers who have the bank accounts with the lending banks. It works like ECS and it has the extra features of re presentation of the EMI. Apart from both option another option is the advance PDC which has deposited in customers’ accounts on regularly monthly basis and fixed monthly dates till the loan get cleared of foreclosed by the applicant.